commission

commission

n. 1) a fee paid based on a percentage of the sale made by an employee or agent, as distinguished from regular payments of wages or salary. 2) a group appointed pursuant to law to conduct certain government business, especially regulation. These include from the local planning or zoning commission to the Securities and Exchange Commission or the Federal Trade Commission.

COMMISSION, contracts, civ. law. When one undertakes, without reward, to do
something for another in respect to a thing bailed. This term is frequently
used synonymously with mandate. (q.v.) Ruth. Inst. 105; Halifax, Analysis
of the Civil Law, 70. If the service the party undertakes to perform for
another is the custody of his goods, this particular sort of, commission is
called a charge.
2. In a commission, the obligation on his part who undertakes it, is to
transact the business without wages, or any other reward, and to use the
same care and diligence in it, as if it were his own.
3. By commission is also understood an act performed, opposed to
omission, which is the want of performance of such an act; is, when a
nuisance is created by an act of commission, it may be abated without
notice; but when it arises from omission, notice to remove it must be given
before it is abated. 1 Chit. Pr. 711. Vide Abatement of Nuisances; Branches;
Trees.

COMMISSION, office. Persons authorized to act in a certain matter; as, such
a matter was submitted, to the commission; there were several meetings
before the commission. 4 B. & Cr. 850; 10 E. C. L. R. 459.

COMMISSION, crim. law. The act of perpetrating an offence. There are crimes
of commission and crimes of omission.

COMMISSION, practice. An instrument issued by a court of, justice, or other
competent tribunal, to authorize a person to take depositions, or do any
other act by authority of such court, or tribunal, is called a commission.
For a form of a commission to take. depositions, see Gresley, Eq. Ev. 72.

6) In the settlement between DOJ and AIG, the United States DOJ contended "that Defendants engaged in a pattern or practice of discrimination on the basis of race or color by allowing wholesale mortgage brokers to charge higher direct broker fees to African-American borrowers than to white borrowers for loans originated and funded by AIG FSB and/or WFL.

Allegations also refer to lenders passing on relatively high broker fees to African Americans and Hispanics, differentially steering some demographic groups to subprime loans, denying loans disproportionately according to race and ethnicity, and engaging in deliberate redlining--the pattern by which financial institutions underserve, if not completely avoid, areas with relatively many minority residents.

Although the Web site may apparently be characterized as a CLO if listed services are being performed via the site, it may be more appropriate to analyze the services under the Broker Fee Statement and the IBAA Test rather than under the CLO Statement.

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